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Sep 5, 2012
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to see good retail in the united states. i see good housing in the united states. how many times did phil lebeau come on and say every single auto maker 14.5 million autos? i mean that's booming. union pacific, things are great. so you just get a picture that says, wait. need to go back to the u.s. again. >> three months of contracting isms. that's a problem. deutsche bank is out this morning saying if you correlate ism to the s&p you would either need a 10% correction in the market or ism back to 54 to justify the current level. >> well, if it's either/or -- the former certainly makes more sense. >> we keep it going. we're reflecting china and europe in the lack of growth in our economy or are they really going to bring us down? >> they reflected china in the chinese stock market which is really hideous. you want to see a real bear market, by the way, versus these european markets. we can say all the negative things you want but you made more money in germany this year so far than in the united states. something isn't it? >
to see good retail in the united states. i see good housing in the united states. how many times did phil lebeau come on and say every single auto maker 14.5 million autos? i mean that's booming. union pacific, things are great. so you just get a picture that says, wait. need to go back to the u.s. again. >> three months of contracting isms. that's a problem. deutsche bank is out this morning saying if you correlate ism to the s&p you would either need a 10% correction in the market...
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Sep 24, 2012
09/12
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states. you talk about it all the time on cnbc. you have policy people on. but really what we need to do is get government out of the way. this entrepreneur thing happens on its own by its own volition as long as tax policy is correct. that's what they were talking about. you get situations like entrepreneurs that become very successful, fror instance, zuckerberg and some of the millionaires he's created are splitting off and investing their own. they don't just sit on their cash, buy a yacht and sail around the world. >> why is one of the big platforms of this election that very issue regarding tax policy? it seems so self-evident to people we rub shoulders with on this trading floor but not to the population at large. >> they think it's gets muddied. if you talk about the capital gains tax. there was a guest on earlier today that says, what's it mean to somebody making $50,000? lowering the capital gains tax to somebody like that is the most important thing you can do because corporations a
states. you talk about it all the time on cnbc. you have policy people on. but really what we need to do is get government out of the way. this entrepreneur thing happens on its own by its own volition as long as tax policy is correct. that's what they were talking about. you get situations like entrepreneurs that become very successful, fror instance, zuckerberg and some of the millionaires he's created are splitting off and investing their own. they don't just sit on their cash, buy a yacht...
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Sep 25, 2012
09/12
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>> i spent 20 years opening charter schools in the united states and remain very involved in the education reform movement. reform can come from many places. one of the great advantages of private education is you have complete freedom from most regulations, from most union situations to really innovate. i like to say, there are no patents in education. the things we do will travel to schools all over the world. >> it is for profit, we should make that point. how much money can you make in this business? >> we raised $75 million of equity, which we invested in our new york campus. as we go forward, we'll be raising other equity worldwide. in order to do that, we have to produce returns that are attractive to the private equity backers that we are supported by. >> and i would imagine given what manhattan incomes are like, you have pricing power, as we like to say in business news. >> we're priced literally where the other schools in the school are priced. that's a similar strategy that we'll use worldwide. we basically took the average of the top 15 schools and priced it at that point. >> w
>> i spent 20 years opening charter schools in the united states and remain very involved in the education reform movement. reform can come from many places. one of the great advantages of private education is you have complete freedom from most regulations, from most union situations to really innovate. i like to say, there are no patents in education. the things we do will travel to schools all over the world. >> it is for profit, we should make that point. how much money can you...
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Sep 28, 2012
09/12
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here in the united states, north america things are okay. nike branded sales were up 23% by revenue in north america. at the same time, under armor, luol lieu lemon, they compete very heavily here in the u.s. how concerned should we be about the 23% number and preserving that in future quarters? >> i think that's, you know, a little artificially high because they do have the first year of the nfl license. that is a new business for them so that is propping up the number a little bit on a year over year basis but overall even when you exclude that they have very strong double digit numbers well into the teens and i think nike is competing as well as under arm our or lulu in the women's category in the u.s. no question. >> yeah. in terms of china, michael, i wonder if you think there is hope there because future orders were down so significantly. what can nike do if anything or is it simply a macro story we have to sit back and wait for the china economy to do better? >> that is part of it. you can't let them off the hook on that. i think they
here in the united states, north america things are okay. nike branded sales were up 23% by revenue in north america. at the same time, under armor, luol lieu lemon, they compete very heavily here in the u.s. how concerned should we be about the 23% number and preserving that in future quarters? >> i think that's, you know, a little artificially high because they do have the first year of the nfl license. that is a new business for them so that is propping up the number a little bit on a...
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Sep 14, 2012
09/12
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could this latest move, this trend across the united states hurt the stock? collin, this must be significant because amazon has a big competitive advantage if it's able to sell unlike the bricks and mortars shops with no sales taxes in certain states. >> ten years ago, it was a bigger advantage for amazon for consumers to avoid sales taxes. today, not having distribution centers closer to consumers is the biggest disadvantage for amazon. we think they're turning lemons into lemonades. getting closer to consumers will play to amazon's advantage over the next few years. >> we lived a pretty ebs tensive survey of about 1100 people in the u.s., 20% of them was the avoid dance of sales taxes, the major reason they shop on amazon. you can impose state taxes. like they did in new york. we don't think you'll see a growth tax in california. >> advantages of having warehouses closer to consumers. one would be the roll out of same-day delivery, how big could that part of the business actually be? >> to mark's point, when you survey consumers convenience and selection an
could this latest move, this trend across the united states hurt the stock? collin, this must be significant because amazon has a big competitive advantage if it's able to sell unlike the bricks and mortars shops with no sales taxes in certain states. >> ten years ago, it was a bigger advantage for amazon for consumers to avoid sales taxes. today, not having distribution centers closer to consumers is the biggest disadvantage for amazon. we think they're turning lemons into lemonades....
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Sep 12, 2012
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this attack will not break the bonds between the united states and libya. libyan security personnel fought back against the attackers alongside american. libyans helped some of our dips find safety and carried ambassador's body to the hospital where we tragically learned he had died. it's especially tragic that chris stevens died in benghazi because it is a city he helped to save. at the height of the libyan revolution. chris led our diplomatic post in benghazi with courage and resolve, he built partnerships with libyan revolutionaries and helped them as they planned to build a new libya. when the gadhafi regime came to an end, chris was there to serve as ambassador to the new libyan. he worked tirelessly to support this young democracy. i think both secretary and dlin ton a clinton and i relied deeply on his knowledge of the situation on the ground there. he was a role model to all who worked with him. and to the young diplomats who aspire to walk in his foot steps. along with his colleagues, chris died in a country that is still striving to emerge from th
this attack will not break the bonds between the united states and libya. libyan security personnel fought back against the attackers alongside american. libyans helped some of our dips find safety and carried ambassador's body to the hospital where we tragically learned he had died. it's especially tragic that chris stevens died in benghazi because it is a city he helped to save. at the height of the libyan revolution. chris led our diplomatic post in benghazi with courage and resolve, he...
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Sep 11, 2012
09/12
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when it comes to the united states, the list is long. in front of an election i saw some young people a couple days ago and a question was put forth how do you define freedom? the young kids i think they were first or second grade had the same answer. the right to pick and choose how you want to live. but whether it's the light bulbs, whether it's the kind of cars you drive, whether it's which companies make it or not, which companies go through traditional bankruptcies, spent a lot of talk about gm and chrysler. i don't know how far ford would get down the road making a car that sold for $49,000. yes, i'm talking about the volt. that big story yesterday. i'm not saying whether that number is right or not. it gets the point across. the biggest issue of all is when the government takes over things like sally may and fannie and freddie, they limit your choices. they have government girth behind whether can you live in your house and how much it costs if you can't afford it. republican, freed so many about choice. your choice. back to you.
when it comes to the united states, the list is long. in front of an election i saw some young people a couple days ago and a question was put forth how do you define freedom? the young kids i think they were first or second grade had the same answer. the right to pick and choose how you want to live. but whether it's the light bulbs, whether it's the kind of cars you drive, whether it's which companies make it or not, which companies go through traditional bankruptcies, spent a lot of talk...
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Sep 19, 2012
09/12
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in the united states this is totally open ended and as the fed announced last week. they're just going to print money until we see a major improvement in the job market. i consider what's happening in europe actually better monetary poli policy. >> why would you consider it better? i don't think either of those policies address what they're trying to address. in the case of the u.s. i don't see a correlation with fed programs and unemployment or at least not one big enough to pull out and with regard to europe, if outside investors don't come in or you don't fix what's wrong with these countries, how long can the printing presses go? can you comment on my opinion versus yours? >> sure. remember, europe is where we were a few years ago. they still have to shore up the banking system. they have to do a lot of things including deposit insurance if you deposit in different countries, so what draghi is doing is financially trying to shore up the banking system. what we're doing in the united states if you at price of gold, the inflationary expectations in the tips market,
in the united states this is totally open ended and as the fed announced last week. they're just going to print money until we see a major improvement in the job market. i consider what's happening in europe actually better monetary poli policy. >> why would you consider it better? i don't think either of those policies address what they're trying to address. in the case of the u.s. i don't see a correlation with fed programs and unemployment or at least not one big enough to pull out and...
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Sep 13, 2012
09/12
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for 30 some years at manyperint different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> let's get a sector check. a lot of indecision ahead of the fed this afternoon. here's one look how consumer staples is doing this morning. meanwhile just in time for fashion week. google glasses making its runway debut during the die van von furstenberg show. it's being released through google+. joining us here at post 9 today is spencer annie. he's the bureau chief. always good to have you. >> good to see you, carl. >> you got to sit down and test drive these things yourself on monday. >> kind of like winning the lottery a little bit. >> what was it like? >> it was really interesting. the iphone 5 came out yesterday and a lot of people criticized it for being boring. this is not boring. it's basically a wearable computer that is a pair of eye frames, right?
for 30 some years at manyperint different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> let's get a sector check. a lot of indecision ahead of the fed this afternoon. here's one look how consumer staples is doing this morning. meanwhile just in time for...
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Sep 18, 2012
09/12
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united states is great market. south america, we're positioned well in all of them but clearly we're going through a big cycle here. and i think the most important thing we do at ford is to continue to invest like we have in the united states in the toughest of times to invest so we'll be here when the economy comes back. >> ford ceo alan mull laully joining us live on "squawk on the street." >> with the fusion hybrid. >> first on cnbc during power lunch coming up at 1:00. back to you. >> thank you very much. >> way to roll, phil. as was said phil will sit down with ford motor company's alan mulally. >> did you see the sales are down 29% year on year. down by almost a third. that's astounding. everybody's crushed. gm is down. everyone is down. but the situation for august is really bad, really bad. >> it appears the be strong, pretty robust. >> i think they're down 8.5% for august. it is deteriorating. >> that is true. absolutely true. when we come back, david fash exclusive. five-star portfolio manager, steven wal
united states is great market. south america, we're positioned well in all of them but clearly we're going through a big cycle here. and i think the most important thing we do at ford is to continue to invest like we have in the united states in the toughest of times to invest so we'll be here when the economy comes back. >> ford ceo alan mull laully joining us live on "squawk on the street." >> with the fusion hybrid. >> first on cnbc during power lunch coming up at...
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Sep 20, 2012
09/12
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fundamentals here in the united states. and the continual demographics in trms of what we would see with people putting money into bond funds. all that has continued. all those fundamental reasons have happened. what i can now say, i guess we'll call it a bit of a mea culpa call, i'll withdraw this idea i think we can see the 1%. i think the low, in fact, was hit for this year, for 2012, during the period of the summer right after i visited with you when we did hit about a 1.21 yield on that 10-year. here's the reasons why. some of it you heard yesterday with jeffrey gundlach. you've now got not true price discovery. a manipulated bond market because of the fed. as a result of that and the fact they are now targeting a certain sub sector, you will continue to see people fearful. the main fear here is that the chinese will start to sell u.s. government bonds to deal with their own problems and as a result of that all the flows in the manipulated market we have can pretty much tell you we will not see that 1% print this year.
fundamentals here in the united states. and the continual demographics in trms of what we would see with people putting money into bond funds. all that has continued. all those fundamental reasons have happened. what i can now say, i guess we'll call it a bit of a mea culpa call, i'll withdraw this idea i think we can see the 1%. i think the low, in fact, was hit for this year, for 2012, during the period of the summer right after i visited with you when we did hit about a 1.21 yield on that...
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Sep 17, 2012
09/12
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that's a big problem. >> what's unique about the united states is the united states has done better over the past 30 years than countries which have decided to keep tax rates high and keep their industries regulated. by lowering marginal tax rates, by deregulating has given the u.s. a huge advantage over countries that haven't. >> the times we did best of all is when bill clinton was president. i think we ought to have the same tax rates we had when bill clinton was president. >> can we get spending down to 18% of gdp like bill clinton? does that come with that? >> i'd be happy to do that as long as we could raise taxes to the way -- >> the president would not. >> last word. >> the fact of the matter is that all this talk about tax cuts is nonsense. it advantages a particular group of people who are already at an advantage. >> that's class warfare. >> it's fitting we end on an equality note given what's happening outside the doors of this exchange. >> be careful. >> governor, j.p., thank you guys. see you next time. >>> when we come back, banks getting a boost from qe-3 but pulling back
that's a big problem. >> what's unique about the united states is the united states has done better over the past 30 years than countries which have decided to keep tax rates high and keep their industries regulated. by lowering marginal tax rates, by deregulating has given the u.s. a huge advantage over countries that haven't. >> the times we did best of all is when bill clinton was president. i think we ought to have the same tax rates we had when bill clinton was president....
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Sep 6, 2012
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we have lackluster growth in the united states. we have draghi coming out and downgrading the gdp outlook and out right recession as europe will likely be in 2013. how can this be? the answer from the bulls is where earnings may be lackluster but they'll still be positive. here is the estimates right now for earning. question down, q4 a big bump up. this isn't going to happen. this is 14 thst. the numbers will come down but still positive. overall for 2012, 4%, maybe 3%. not as much as in the past year. it is still growth, 2013, you know the numbers are the how. you know they will come down. it is 11%. that will probably end up at 5% next year. 5% growth, carl, is still 5%. it is not negative earnings growth. to argue for negative earnings growth, let me tell you what people are telling me. they keep saying you can't do this way. revenue growth is petering out, the margin expansions are tougher, china will have a hard landing, a soft patch in the u.s. economy, we'll hit the fiscal cliff. this is what people yell at me every day. he
we have lackluster growth in the united states. we have draghi coming out and downgrading the gdp outlook and out right recession as europe will likely be in 2013. how can this be? the answer from the bulls is where earnings may be lackluster but they'll still be positive. here is the estimates right now for earning. question down, q4 a big bump up. this isn't going to happen. this is 14 thst. the numbers will come down but still positive. overall for 2012, 4%, maybe 3%. not as much as in the...
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Sep 26, 2012
09/12
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it is policies that will create greater job creation and greater manufacturing in the united states and those are the policies we believe that governor romney and ryan are advancing during this campaign and policies they will put in place when they're in the white house. >> there is a poll, 87% of likely voters say the economy will be an important factor in their decision when they vote. obviously not a surprise. when you have confidence up like it was yesterday, you get home prices that are improving. we got decent numbers today. the market today aside has obviously been strong for the quarter. you have gas prices coming down. are there policies, will we be hearing about positions that argue they could have done even better than all of those things doing right now? >> well, look, this recovery is the weakest recovery we have seen in modern history. you still have 23 million americans struggling for work. you have 47 million americans on food stamps. the reality is that the obama campaign can try to paint whatever picture they want to paint. the reality is that americans are not interes
it is policies that will create greater job creation and greater manufacturing in the united states and those are the policies we believe that governor romney and ryan are advancing during this campaign and policies they will put in place when they're in the white house. >> there is a poll, 87% of likely voters say the economy will be an important factor in their decision when they vote. obviously not a surprise. when you have confidence up like it was yesterday, you get home prices that...
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Sep 7, 2012
09/12
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whatever is happening here in the united states today, it is risk on if you're in the banks. take a look at even the german banks. of course, who wants to concentrate on the bonds? look at this, deutsch bank up 6%. big bank across europe rallied strongly again today. there is no new news today but the confidence is shifting. it may not be sustained. they may sell off on monday. but, look, in italy, this bank here almost up 10%. you know these guys here exposed to sovereign debt. look at the way in which they have gained today. separate to that, of course, kate kelly was showing us that we have an improved offer for xtrata. importantly, from china, and i've spoke with the steel stocks. in china you have the announcement of $157 billion of infrastructure spending. look at how the other miners around the world, a lot of them in london, have also gained today. it's been a terrible performer, up 7%. a very important day today in europe. melissa, back to you. >> let's get a check on energy and commodities. sharon epperson at the nymex. sharon? >> it's an important day in the commod
whatever is happening here in the united states today, it is risk on if you're in the banks. take a look at even the german banks. of course, who wants to concentrate on the bonds? look at this, deutsch bank up 6%. big bank across europe rallied strongly again today. there is no new news today but the confidence is shifting. it may not be sustained. they may sell off on monday. but, look, in italy, this bank here almost up 10%. you know these guys here exposed to sovereign debt. look at the way...
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Sep 21, 2012
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states and overestimating the risks within the united states. >> he's talking about the stock market rising possibly 40% over the next two years. is he right? >> god bless him. i hope he's right. i'm quite bullish. i'm not sure i'm quite that bullish, but i hope he's right. i think if that's going on happen, the profit cycle must begin to turn off. you kneed the s&p 500 profit cycle to turn up. i think if that happens in conjunction with lower interest rates, then, yeah, i think you could about the build up. if you had that confluence of events, yeah, you could melt up. >> there also is a possibility, rich, that profit cycle does slow down, but they take all that cash and they buy back 8 billion in stock like nike or they boost the dividend like cisco. >> exactly. or they start buying smaller and midcap companies that kooem keep growing. they're eventually going to have to buy growth. it's my opinion they're going to go down to midcap and smaller cap companies to buy that growth over the next couple of years. >> good stuff. have a great weekend. >> thank you. see you later, guys. >>>
states and overestimating the risks within the united states. >> he's talking about the stock market rising possibly 40% over the next two years. is he right? >> god bless him. i hope he's right. i'm quite bullish. i'm not sure i'm quite that bullish, but i hope he's right. i think if that's going on happen, the profit cycle must begin to turn off. you kneed the s&p 500 profit cycle to turn up. i think if that happens in conjunction with lower interest rates, then, yeah, i think...
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Sep 4, 2012
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we've got manufacturing contracting here in the united states. yesterday, we learned it's contracting in the china for the first time since november and in europe, it continues to contract. and yet, you think that the market is well supported here, why? >> i think it's going to be a range bound market. i think right now, we're in the tougher end of the range. there are two things that are supporting the market. one, there is an economic value to entities and so the lbo or acquisition value is providing support. to the extent companies return cash to shareholders, that offers some support. >> do you see many acquisitions in the market at the moment? >> no, and that's one of the things that's been surprising and disappointing at the same time. it's interesting. there are areas of the market where you've seen capital flow to economic opportunity. for example, buying single family homes to rent them out. which is an arbitrage that was made available by the decline housing prices you haven't seen a comparable level of activity on the corporate side, w
we've got manufacturing contracting here in the united states. yesterday, we learned it's contracting in the china for the first time since november and in europe, it continues to contract. and yet, you think that the market is well supported here, why? >> i think it's going to be a range bound market. i think right now, we're in the tougher end of the range. there are two things that are supporting the market. one, there is an economic value to entities and so the lbo or acquisition...
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Sep 10, 2012
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states and other parts of the world rally off the back of this notion of china stimulus, are all those things built on false expectations? >> we need to look at those charts. and most of those charts have fallen very sharply in the last two months. so what we experience through our trading book on friday with short coverings, we didn't see long-only investors coming in and buying stocks this morning. what i do think is different and you've highlighted that asia has recovered -- talking about a recovery -- the local investors do seem to be more excited by this new story than we've seen for some period of time. particularly noting that cement stocks rallied quite hard today in shanghai. so that is interesting that the local investors are somewhat more enthused about this story than we've seen for months. >> okay. adrian, thank you so much for phoning in. we appreciate it. adrian mowat of jpmorgan. >>> it's interesting this morning that stocks are essentially hanging on to the sharp gains that they made last week. clearly hopes are high that the fed will announce further monetary easing t
states and other parts of the world rally off the back of this notion of china stimulus, are all those things built on false expectations? >> we need to look at those charts. and most of those charts have fallen very sharply in the last two months. so what we experience through our trading book on friday with short coverings, we didn't see long-only investors coming in and buying stocks this morning. what i do think is different and you've highlighted that asia has recovered -- talking...
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Sep 27, 2012
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today, it's live for the first time in the united states. the projections are that the percentage of viewers in the u.s. who are interested in this is upwards of 70%. >> that's absolutely right. already you find about a third of internet browsing happens while people are watching tv. so the interesting in integrating consumers is huge. >> we would anticipate tens of millions users as a possibly. >> how would this be in the way it's going today? >> people are going to watch tv, shift to the desktop tv. as you come into your house, your signal will shift from your mobile on to your tv. >> you can have the screen finder with your handheld and your television. it's fascinating, guys, and we can't wait to see what all this brings. >> right now, it's on itunes and on google play. >> thanks very much. >>> it looks like we're get something clarity on rajoy's budget in spain. we'll get more on that after a break. >>> in the meantime, he's pushing to get the nebraska state income stacks. rick santelli and forget where is the beef. now it's where is th
today, it's live for the first time in the united states. the projections are that the percentage of viewers in the u.s. who are interested in this is upwards of 70%. >> that's absolutely right. already you find about a third of internet browsing happens while people are watching tv. so the interesting in integrating consumers is huge. >> we would anticipate tens of millions users as a possibly. >> how would this be in the way it's going today? >> people are going to...